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- 28 April 2022
- Transport / Logistics Services
Parcel and mail volume drops led to a fall in revenues and profits at PostNord in the first quarter of 2022. Sales dropped by 6% to SEK 9772 million (£798 million) and profits fell significantly from SEK 878 million (£71.7 million) in 2021 to SEK 98 million (£8m) this quarter.
Parcel volumes dropped by 10% compared to 2021 and mail volumes also fell by 13%. Having added capacity to meet demand during the pandemic, with the drop in volumes this has led to costs associated with over-capacity. The postal operator has seen changes in consumer habits since the pandemic restrictions were lifted, with high street shops having a surge in footfall to the cost of e-commerce. Travel and entertainment has also impacted online shopping volumes.
PostNord is working on improving efficiency in the business and is looking to take measures to compensate for transport-related cost increases.
At the same time it is investing heavily in lowering its carbon emissions, to include replacing much of its fleet with electric vans and rolling out a network of parcel lockers across the country.
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